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Spain sees Inflation remain at 3.0%

Source: INE - Wed 2th Jan 2013
Spain sees Inflation remain at 3.0%

Data released earlier this morning by Spain's National Institute of Statistics - commonly referred to as just 'the INE' - reported how the Country's rate of harmonszed inflation in December stood at 3.0%.

The rate remains unchanged from November, in line with predictions from Analysts on the Economy of Country.

Similarly, inflation based on the consumer price index, reamined unchanged at 2.9% annually.

Today's report is simply a brief and initial overview of the statistics which are provided each month, with a more detailed report being produced by the middle of the month, however, the 'flash report' is almost always proved to be accurate.

As far as the wider Eurozone area is concerned, the 17 member states saw their combined rate of Inflation slow from 2.5% in October to 2.2% in November.

Before Christmas the INE also reported that retail sales in Spain had fallen 7.8% year-on-year in November, and that shops were expecting one of the worst January sales on record, prompting the Government to reconsider current trading regulations.

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